Decree 123: Guidance on procedures and documents for consolidation of law firms in Vietnam

Decree 123: Guidance on procedures and documents for consolidation of law firms in Vietnam (Internet image)

Decree 123/2013/ND-CP stipulates that two or more limited liability law firms may have agreements on consolidation into a new limited liability law firm. Two or more law partnerships may have an agreement on consolidation into a new law partnership. A dossier for consolidation of law firms shall be submitted to the Justice Service where the consolidating law firm is located. A dossier is comprise of:

- A request for consolidation of law firms;

- A consolidation contract, in which procedures, time limit and conditions of consolidation, plan of using labors, inheritance of all obligations, rights and legitimate interests of consolidated law firms are clearly stated.

- The Certificate of operation registrations of consolidated law firms;

- The Charter of the consolidating law firm.

Within 10 days, since the date of receiving a valid dossier, the Justice Service may grant the Certificate of operation registration for the consolidated law firm; in case of refusal, there must be a written notice stating reasons clearly.

Procedures for notifying contents of Certificate of operation registration of the consolidating law firm shall comply with Article 38 of the Law on Lawyers.

After the consolidating law firm being granted with the Certificate of operation registration, the consolidated law firms shall stop operating. The consolidating law firm shall be entitled to receive all legitimate rights and interests; be responsible for all outstanding debts, prevailing legal service contracts, labor contracts signed with lawyers and other employees and other property-related obligations of consolidated law firms.

Within 05 working days, since the date of granting the Certificate of operation registration to the consolidating law firm, the Justice Service shall notify the Justice Services where the consolidated law firms are located and enclose with a copy of the Certificate of operation registration of the consolidating law firm in order to remove names of the consolidated law firms from the list of operation registrations.

More details can be found in Decree 123/2013/ND-CP which comes into force from November 28, 2013.

Ty Na

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